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Litecoin forecast – sale continues! When will the bottom be reached?

 


As Litecoin price broke the support around $62, we now anticipate Litecoin price to target the next support. This is around $40, which is why a further price loss of +/- 30% is conceivable. The price might find short-term support at the $40 support, however, it is unlikely to hold for a long time. Going forward, we expect LTC price to confirm the former $62 support as resistance by bouncing back to this level and being rejected. After that, the sell-off could also resume where the $40 support is broken. We continue to think that a low of around $14 will prevail in 2022.

The Litecoin/Bitcoin pair isn't really looking any better than the USD pair. Instead, we would rate this even worse. The price recently broke a trend line, which slowed down the price drop somewhat. Now that this trendline has been broken, we expect Litecoin price to fall even faster and deeper than before. Unfortunately, support cannot be drawn in because we have no historical data. However, one can choose the psychological level of 0.001 BTC as the first target.

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